Dentons has advised Poland’s state development bank, Bank Gospodarstwa Krajowego (BGK), and state export credit agency, Korporacja Ubezpieczeń Kredytów Eksportowych S.A. (KUKE), on a €32.37 million financing extended to HiProMine. The funds will be used to build and equip a new plant for the production of feed materials in Karkoszów and a genetic center for insect breeding in Robakowo, Poland. Both projects are under construction and production at the new facilities is expected to start in the first half of 2024.
This is the first financing provided by BGK under the project finance formula using KUKE’s guarantees for export-generating investments.
Dentons advised BGK and KUKE on preparing, negotiating and executing the finance documents and securities.
“We are honored to have been part of this outstanding project and to be able to contribute to the development of HiProMine’s operations in Poland. The cooperation with all the parties involved in the transaction was extremely satisfactory and we are happy to express our appreciation for the professionalism and commitment demonstrated by all,” said Tomasz Zwoliński, partner in the Banking and Finance team, who supervised and led the transaction.
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